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American billionaire Warren Buffett was not spared the economic consequences of the crown pandemic. Its holding company Berkshire Hathaway reported a quarterly loss of just under $ 50 billion.
The company spoke of a “temporary” setback, but at the same time admitted to facing uncertain times. It was unclear when normalization would be expected in the holding company’s various business areas, he said at the shareholders meeting, which was held as an online conference due to the crown pandemic.
Most of the more than 90 companies in which the holding company participates are struggling with the “mild to severe” negative effects of the crown crisis. However, Berkshire Hathaway had already suffered a violent loss in the last quarter of 2019.
Buffett is hopeful. According to the Reuters news agency, he cited historical events such as the Civil War and the Great Depression of the 1930s as examples of how the US economy. USA It can bear great setbacks. It would have taken 20 years after the economic crisis, but the Americans persevered and finally succeeded again. “Never bet against the United States,” said Buffett.
Due to the pandemic, the annual general meeting called “Woodstock for Capitalists” will also be canceled, according to Reuters. Thousands of people typically travel to the company’s headquarters in Omaha, Nebraska, annually.
Buffett has assets of $ 72 billion, according to the American magazine “Forbes.” The 89-year-old woman is the fourth richest person in the world. Berkshire Hathaway owns, among other things, significant interests in the Apple computer group, as well as in financial groups such as American Express and Goldman Sachs. The parent company is also active in the insurance and energy sectors.
